EURUSD is in a short-term downtrend amid falling demand for risky assets as a result of the outbreak of the coronavirus pandemic in China and the extinct epidemic in the United States. But today, it can recover in the wake of the growth of the stock market in China and the same likely dynamics in the United States, as indicated by futures on US stock indices.
Technical picture EURUSD: The
price is below the middle line of the Bollinger indicator, at the level of SMA 50 and below SMA 14. The RSI is below the level of 50% and moves horizontally. Stoch points to a weakening EURUSD price decline.
Trading recommendations EURUSD trading plan:
The growth of the EURUSD pair above the level of 1.1200 may lead to its local recovery to the level of 1.1240.
EURUSD rate online
Grand Capital Analytics
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